- net cash is surprisingly slim (once you allow for payment of "other current creditors" of about $5M). Although West Cameron churned out plenty of cash in 2003, it nearly all went back into drilling and development expenditure. Hopefully there will not be any need to raise more cash to finish Vermilion development and after that the Gulf of Mexico can start providing substantial net surpluses for China development or even payment of a dividend.
Anyone (jocam?) have an idea of what rate West Cameron is currently producing at and how much cash it might have generated for PSA since 1 January?
- Terry Fern paid himself pretty well in 2003 - up from $450k to over $800k!
PSA Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
